Cemex to cut global workforce

Cement manufacturer Cemex is to lose 6% of its global workforce as part of a wider reorganisation.

The company employs about 46,500 people across the globe and is seeking cost savings of about £160m this year. The Mexican group is the world’s third biggest cement maker.

Reuters reported the cement maker said it hopes to generate £250m in additional cash flow by the end of 2012 through cutting costs and improving underperforming businesses.

The company reported a wider-than-expected first-quarter loss, but said sales rose in a sign it is slowly recovering from the worst crisis in its century-long history.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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